Ex-UK Prime Minister Warns of Economic Downturn, Expresses Support for Bitcoin

The UK's former Prime Minister, Liz Truss, has voiced concerns over the country's economic stagnation, attributing many problems to the lack of a stable currency and the devaluation of sterling due to inflation and excessive money printing. Truss, who briefly led the Conservative government in 2022, believes the current financial situation has strengthened her interest in bitcoin, viewing it as a potential hedge against currency devaluation. She first encountered bitcoin during her time at the Treasury and had mentioned it to stimulate discussion. As Chief Secretary to the Treasury until 2019, Truss developed a keen interest in the cryptocurrency. In a recent interview, Truss stated, 'A lot of the problems we face are due to the devaluation of our currency and the lack of sound money.' She finds the absence of meaningful debates around money in academia and government 'sinister' and believes discussions about monetary policy have become taboo, despite their crucial role in economic outcomes. For Truss, bitcoin represents part of a broader concern about centralization and control, warning that the current system is designed to increase centralized control and limit financial independence through regulation and taxation. She positions bitcoin as a pushback against this trend. Truss warns that the economy is on a 'very negative trajectory,' driven by weak growth, rising state control, and failed monetary policy, leading to long-term decline. 'We are becoming relatively poorer, very quickly,' she notes, citing high taxes, regulation, and energy costs that make entrepreneurship unrewarding. 'There's a massive disincentive to work in this country.' Reflecting on the market turmoil following the 2022 mini-budget, Truss argues that it exposed underlying fragilities rather than causing them, pointing to leveraged pension strategies as an example. Outside of government, Truss is now focused on building a political movement, including CPAC UK, a conference aimed at uniting activists, entrepreneurs, and voices from the 'sovereignty and liberty' movement. 'We need a movement of people who understand what the problem is,' she emphasizes, framing the stakes as 'either we're finished or we change it.'